Monday, March 5, 2012

CONVICTED INSURANCE MOGUL TO SEEK LENIENCY.(CAPITAL REGION)

Byline: DENNIS YUSKO Staff writer

Former Schenectady insurance executive Albert Lawrence, convicted of 20 counts of fraud, embezzlement and tax evasion, will try to get the court to depart from federal sentencing guidelines by arguing his conviction was just ``one small part of what otherwise was an extraordinary life,'' his lawyer said Saturday.

Lawrence was found guilty Thursday by a federal jury in Syracuse of stealing $38 million from policyholders and employees as his companies began to fail. He faces 5 to 8 years in prison and up to $5 million in fines when he is sentenced Oct. 12 in Albany by Chief U.S. District Judge Frederick Scullin Jr.

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